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Polymetals (ASX:POL) - CEO, Alexander Hanly - The Market Herald
CEO, Alexander Hanly
Source: Polymetals / Twitter
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  • Polymetals (POL) receives the second batch of assay results from its phase two drilling program at its Alahiné Gold Project in Guinea
  • Under the phase two program, 98 holes were drilled to test the artisanal gold workings and new priority targets
  • Polymetals has now received results for 54 per cent of all samples submitted with new grades peaking at 21.40g/t gold
  • The remaining results are expected by the end of the month and once received the company will plan further drilling with aims to extend the mineralisation
  • Polymetals ends the day 3.57 per cent in the red with shares trading at 13.5 cents

Polymetals (POL) has received the second batch of assay results from its phase two drilling program at its Alahiné Gold Project.

The Alahiné Project lies in Guinea's Siguiri Basin in West Africa and spans an area of 64 square kilometres.

Under the phase two program, 98 holes, for 7320 metres, were drilled to test the artisanal gold workings and new priority targets.

With the second batch of assay results received, Polymetals has now received 54 per cent of all samples submitted.

New results include one metre at 21.40 grams of gold per tonne (g/t) from 81 metres, one metre at 13g/t gold from 39 metres; and one metre at 11.56g/t gold from 59 metres.

The remaining assay results are expected by the end of September and once received Polymetals will plan further drilling with aims to extend the oxide mineralisation and test new targets.

Supervising Geologist Clive Hastings commented on the results.

"The additional results received provide further evidence that the laterite mineralisation mined by the artisanals is a very wide re-mobilisation halo," Mr Hastings commented.

"Although we are in the early stages of exploration, this halo demonstrates the potential for a very large target."

"Now that the gold zone has been defined on several lines of drilling, our next stage will be to infill, specifically targeting the mineralised zone."

Polymetals has ended the day 3.57 per cent in the red with shares trading at 13.5 cents in an $11.12 million market cap.

POL by the numbers
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